• With: Gary B. Smith, Tobin Smith, Jonas Max Ferris, Todd Schoenberg, Chris Hahn

    DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.

    NEW REPORT SHOWS 70 PERCENT OF SMALL BUSINESSES AREN'T HIRING: IS MORE GOVERNMENT SPENDING THE ANSWER TO GET JOBS BACK?

    TODD SCHOENBERGER: Absolutely not. Two out of every three jobs in this country have been created by small businesses over the last 15 years. The small business owner doesn't care about infrastructure, spending, or any of this five point plan that we heard from President Obama. There hasn't been improvement at the top; we have to improve sentiment first of all, then come up with everything else. But right now, small businesses are struggling.

    CHRIS HAHN: You know, you've got to spend money in this country to create and we need infrastructure spending and we need it now. We haven't really spent all the stimulus money on infrastructure. A lot of that was for tax breaks. It's time for us to build bridges, build roads, build airports, build pipelines, and yes, high speed rail. We need it in parts of America, especially here in New York.

    TOBIN SMITH: The small business person, unless he happens to be in the bridge construction business, could care less about this. We also have small businesses who sell to American cities and countries and ones that are basically U.S. based that sell outside America. The ones that are selling outside the United States are doing okay. What we're talking about are small businesses that sell in America, and in America they are worried about what their cost of business, what their cost of overhead is going to be and until they get that settled, why hire people when they can fire people?

    JONAS MAX FERRIS: I think everyone's overanalyzing why a business is not hiring somebody, but most businesses in America are swimming in cash today compared to years before and have excess capacity. There are massive amounts. I don't know what government's magically going to do to create customers for these people or to make loans any more available than they already have through dozens of programs and incentives.

    GARY B. SMITH: When President Obama took office at the start of the whole stimulus I heard a couple buzz words. I heard lower unemployment and I heard shovel-ready jobs. Right now, after Friday's number I'm seeing unemployment - I'm sorry it's going to the wrong way-and I see jobs at net zero, probably negative jobs, so the effect on small businesses, even if you include all this shovel-ready, is not to be believed.

    HOW NO DEBT DEAL COULD BE THE BEST DEAL FOR THE MARKET

    GARY B SMITH: Letting the debt limit expire will finally show our country and the rest of the world that we have priorities and the priorities are tightening our belt... and not being Greece. And look back to history: 1985, 1995, 2002, the deadline went over by three to four months and guess what? The world kept going on. And finally, as far as paying our bills, we'll have enough money coming in to pay principle and interest and guess what, the remaining money that we have, the Obama administration will just have to start to prioritize just like any family would that's not taking in enough money to pay its bills. I say let it go. Let's show the rest of the world that we mean business.

    TOBIN SMITH: It's not going to be that easy because, in fact, this isn't like 1995 and 1985. In this specific situation we'll have an automatic downgrade of our debt. If we have an automatic downgrade of our debt then anybody who holds this debt would have to sell it, which means it's just going to spike the heck out of the market; it's not only going to kill the market, but also it's another external event that our shaky world economy, unfortunately, can't handle.

    TODD SCHOENBERGER: And let's add to investor's sentiment on this, as well. The last thing you want though is anything like a credit rating cut in this country because if that happens, that creates uncertainty and that kills sentiment and confidence on the floor. You will have a massive sell off.

    JONAS MAX FERRIS: We're not Greece, because we actually, physically can pay our debt. This is an arbitrary limit. Greece is in a hole they can't dig their way out of without help from bigger people. If, in theory, we did prioritize and put our debt payments at the top of the list and then said, ‘okay, military budget, we're cutting people, we're pulling them out of wars; we're cutting social security checks across the board twenty percent.' If we did that our credit rating would still be good and the bonds would do fine. But I don't think politicians could agree on the priority.

    TSA AGENT STEALING FROM PASSENGERS AND SELLING IT ONLINE: PROOF THE TSA SHOULD NEVER BE UNIONZIED?

    TOBIN SMITH: I had a watch on this (Friday) morning before I went through TSA... and I swear as the day is long, my watch was stolen today at the Washington TSA line by a TSA person. And I guarantee you this: that when I go to file charges against this guy, because he is not unionized, he will get fired. However, if he was unionized, he would be working tomorrow on a 90-day seclusion.

    CHRIS HAHN: Maybe if they had a union there, they would be a little bit more careful who they hire to check our luggage and keep us safe. They'd be a little bit more careful because they'd be a little bit worried about having to fire people, maybe they'd do better screenings on the people who are supposed to be keeping us safe in the sky. That's the reason, Toby. Your watch is the reason to unionize.

    TODD SCHOENBERGER: In a case like this... if you're a part of a union, they're like the mob. They're not going to rat on each other. Unions are protected. People join unions because you take care of the union and the union takes care of you.

    JONAS MAX FERRIS: Unions raise wages and lower the amount of work you got to do. That's why it's kind of cool to be in one. So, and my point here is they can't defend a criminal. You get busted, you're going to go to jail. The union can't do anything. But if they can raise your wages and lower your amount of working, aren't you more inclined to keep that job because it's a good union job and less inclined to steal?

    GARY B. SMITH: The whole point of unions is to raise wages for the people and protect their jobs. So, is it harder to get fired when you're in a union? Yes. Otherwise, the union wouldn't be doing their job. So, I'll tell you what, in this case, if they unionize, it would be harder to fire this person.

    PREDICTIONS

    TODD SCHOENBERGER: Shuttle program going private has "VMED" doubling in one year

    GARY B. SMITH: In it for the long run! "SPY" gains 25 percent over the next year

    TOBIN SMITH: Google beats out competition! "GOOG" up 20 percent in six months

    JONAS MAX FERRIS: Go for "real" unlimited data plans! "S" dials up 20 percent gains in one year